Tex. Transp. Code § 463.103 · Subchapter C. MANAGEMENT OF AUTHORITY
DEPOSITORY; DEPOSIT OF FUNDS.
Text — Current through the 89th 2nd Called Legislative Session, 2025
(a) The executive committee shall designate one or more banks as depositories for authority funds.
(b) An authority shall deposit all funds of the authority that are not otherwise invested in one or more of the authority's depository banks unless otherwise required by an order or resolution authorizing the issuance of an authority bond or note or other contractual undertaking.
(c) Funds in a depository, to the extent that those funds are not insured by the Federal Deposit Insurance Corporation, shall be secured in the manner provided by law for the security of county funds.
Notes and commentary — not statutory text
History
Added by Acts 2019, 86th Leg., R.S., Ch. 151 (H.B. 71), Sec. 1, eff. May 24, 2019.
Source of truth
- Edition
- Current through the 89th 2nd Called Legislative Session, 2025
- Official file
- https://statutes.capitol.texas.gov/Docs/TN/htm/TN.463.htm
- Text hash
- sha256 dc94848111dadf38a041561d15dae9787f4f7f246b0c6e109ee89e668ce658a1
- Composed by
- compose_tx.py 2026-10-05: the Legislative Council's chapter files read in document order; verify_tx.py's independent reading (lxml DOM walk) agrees character for character
Procedural information only. Not legal advice and not a substitute for the advice of an attorney. Confirm the current text with the official publisher before relying on it.